Businessman loses RM8.25m to investment scam
SUBANG JAYA: A businessman was allegedly cheated of RM8.25 million by a man who offered him shares in three companies on Bursa Malaysia.
District police chief Assistant Commissioner Mohammad Azlin Sadari said the victim was introduced to the suspect by a friend in July 2016.
He said the victim was offered shares in a company via reverse takeover (RTO).
He said the victim was excited by the offer as the company was listed on Bursa Malaysia and made two payments to the suspect — RM1 million for the first payment and RM1.5 million for the second payment.
“After the second payment was made, the suspect offered the victim shares in another company. The victim paid the suspect RM1.95 million.”
Azlin said the suspect told the victim in April last year that the purchase of the second company’s shares was unsuccessful.
However, he did not return the RM1.95 million.
“At the same time, the suspect was offered shares in a third company at the price of RM3.8 million, saying that the company did not have enough finances to operate.
“The victim, who was told that the company had a lot of potential, paid the amount.”
After failing to hear from the suspect for a long time, the victim met two owners of the companies. He then found out he had been conned.